Lors de la 795th session of the bank's board of directors on Wednesday, October 12, 2022, George AgyekumDonkor, the chairman of the board of The EBIDC administration announced in Lomé that the Board of Directors of the ECOWAS Bank for Investment and Development (EBIDC) approved $250 million to stimulate the energy, agriculture, road infrastructure and oil sectors. and gas in five ECOWAS countries.

The $250 million approved aims to ease the impact of the Russo-Ukrainian war on ECOWAS member states. Indeed, Ghana, Burkina Faso, Nigeria, Senegal and Sierra Leone are the countries that will benefit from this donation. The BIDC is the leading regional investment and development bank. It is owned by the 15 member states of ECOWAS and is headquartered in Lomé, Togo. It operates through equity investments, refinancing, associated services, financial engineering operations and long, medium and short-term loans.

As for the reasons for approving the funds, we note the impact of the Covid-19 pandemic and the current war between Russia and Ukraine, which are responsible for the fall of many & Exact; savings.